Choosing an executor for your estate

Choosing an estate executor can be challenging and in some cases stressful. Unfortunately, the uncertainties many Vancouver residents feel about the issue cause them to put off estate planning. Getting informed about the kind of qualities that make a good executor can make this important decision easier.

Your first step is understanding the duties your executor will be expected to perform. Essentially, he or she will carry out any instructions you have outlined in your end-of-life documents. Many times, it is a relatively simple process when a good, solid estate plan exists; other times, it is a lengthy, time-consuming process. Knowing this ahead of time can help you choose the right person. Below you will find additional qualities to look for in an estate executor.

Trustworthy: Naturally, your executor should be someone you can trust to carry out your wishes and protect your assets.

Organized: Administering an estate calls for a responsible and organized approach. Make sure the person you choose is up to the task.

Enough Time: The person you choose should be free to undertake this responsibility without putting a significant hardship on his or her own affairs.

Willingness: It is very important to ask your potential executor ahead of time if he or she is willing to take on this important role.

Bold: A shrinking flower may not have the self-confidence to ask for help when it is needed. Consider a person who will not be afraid to seek advice from a lawyer or another professional when necessary.

Hopefully, the information in this article has put you on the right path to proper estate planning in British Columbia.

Source: Money Coaches Canada, "How to choose an executor," Noel D’Souza, accessed April 28, 2016

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